The New York State Senate

                    S T A T E   O F   N E W   Y O R K
________________________________________________________________________

                                  7358

                            I N  S E N A T E

                            January 21, 2020
                               ___________

Introduced  by  Sen.  STEWART-COUSINS -- read twice and ordered printed,
  and when printed to be committed to the  Committee  on  Investigations
  and Government Operations

AN  ACT to amend the tax law, in relation to extending the expiration of
  the mortgage recording tax imposed by the city of Yonkers

  THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
BLY, DO ENACT AS FOLLOWS:

  Section  1.  Subdivision 1 of section 253-d of the tax law, as amended
by section 1 of subpart D of part C of chapter 61 of the laws  of  2017,
is amended to read as follows:
  1.  The city of Yonkers, acting through its local legislative body, is
hereby authorized and empowered to adopt and amend local  laws  imposing
in  any  such city during the period beginning September first, nineteen
hundred ninety-three and ending August thirty-first, two thousand [twen-
ty] TWENTY-ONE, a tax of fifty cents for each one  hundred  dollars  and
each  remaining  major  fraction thereof of principal debt or obligation
which is or under  any  contingency  may  be  secured  at  the  date  of
execution  thereof,  or  at  any  time thereafter, by a mortgage on real
property situated within such city and recorded on  or  after  the  date
upon  which such tax takes effect and a tax of fifty cents on such mort-
gage if the principal debt or obligation which is or by any  contingency
may be secured by such mortgage is less than one hundred dollars.
  § 2. This act shall take effect immediately.




 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD09943-01-9